<img src='https://news.cgtn.com/news/2026-07-17/China-firmly-opposes-UK-nationalization-of-British-Steel-1OQvdAjfmUw/img/52f14eab8fb64d37bc8bef459f860a4f/52f14eab8fb64d37bc8bef459f860a4f.png' alt='A sign outside British Steel's Scunthorpe works declares "British Steel For The Nation" in Scunthorpe, UK, July 16, 2026. /VCG'
China said on Friday it firmly opposes and strongly disapproves of Britain’s decision to nationalize British Steel and urged fair treatment of Chinese firms in the UK.
British Steel was owned by Jingye Steel, a private Chinese steel company that injected a massive amount of capital into the business after taking it over, keeping it afloat after years of losses.
The British side has forcibly taken over the company under the pretext of national security and disregarded Jingye’s contributions to the British economy and society, a spokesperson for China’s Ministry of Commerce said.
Britain’s move seriously damages Jingye’s legitimate rights and interests, and severely undermines Chinese companies’ confidence in investing in Britain, the spokesperson added.
China said it would closely monitor developments and support Chinese firms in protecting their rights, urging Britain to fulfil obligations under the China-UK investment protection agreement.
Jingye has said it is seeking full compensation for its investments in the company; the UK government said an independent assessment would determine any compensation.
